TOP STOCKS TO WATCH THIS WEEK | SUNDAY STOCK TALK | Summary and Q&A

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April 5, 2020
by
Ricky Gutierrez
YouTube video player
TOP STOCKS TO WATCH THIS WEEK | SUNDAY STOCK TALK

TL;DR

Ricky from Technical Solutions provides market analysis and breaks down several stocks suggested by viewers, including American Airlines, GM, SQQQ, Tesla, and more.

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Key Insights

  • 🌸 The importance of planning and risk management in trading, considering both potential profits and potential losses.
  • ❓ The market's volatility and uncertainty due to the coronavirus pandemic, with caution advised in trading decisions.
  • 🫰 Understanding the correlation between inverse ETFs like SQQQ and the market index they follow.
  • 🫢 The potential impact of decreased natural gas production on the market and the recent surge in natural gas prices.
  • 🪡 The need for careful consideration and patience when investing in stocks affected by the pandemic, such as American Airlines and Tesla.
  • 🪡 The need to focus on previous price patterns and resistance/support levels when evaluating stocks like GLD (Gold) and APA.
  • 🥟 The risk associated with trading pump-and-dump stocks like LK and the importance of doing due diligence before trading them.

Questions & Answers

Q: Should I buy American Airlines stock now, considering the recent drop?

While American Airlines may seem oversold and tempting to buy, it's essential to wait for confirmation of a recovery. The overall direction is still unclear, and the market conditions are unfavorable for airlines due to the coronavirus pandemic. Patience and cautious decision-making are recommended.

Q: What are the potential risks and rewards of trading SQQQ?

SQQQ is an inverse ETF that follows the Nasdaq. If the overall market, especially Nasdaq, begins to sell off, SQQQ can provide upside potential. However, it's crucial to understand the correlation between the ETF and the market index and set alerts for confirmation of a market downtrend before entering a trade.

Q: Is Tesla a good long-term investment at its current price?

While Tesla has seen significant hype and a recent rise due to its involvement in medical device production, the overall market direction and the impact of the coronavirus pandemic should be considered. It's important to wait for confirmation of a recovery, as the direction is not clear. Holding off on long-term investment until the market stabilizes may be more prudent.

Q: Should I consider investing in Gold (GLD) at its current level?

Gold has been consolidating, but the direction is not clear. Previous resistance levels suggest the possibility of a pullback. It's recommended to wait for confirmation of a clear trend, especially as the market conditions are volatile. Patience and setting alerts are essential in such uncertain times.

Summary & Key Takeaways

  • Ricky introduces Sunday Stock Talk, where he discusses top stocks suggested by viewers, emphasizing the importance of careful planning and risk management.

  • Ricky breaks down stocks such as American Airlines, GM, SQQQ, and Tesla, providing insights into their trends, indicators, and potential directions.

  • Ricky highlights the volatility in the market due to the coronavirus and encourages patience and caution in trading decisions.

  • Ricky also briefly discusses the recent surge in natural gas prices and the potential impact of decreased production.

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